Mr. Franklin Sharp owns 800 shares of Guard Inc. The ACB per share is $25.00. On June 15, 2021, he sells all of these shares for $14.00 each. On June 21, 2021, he purchases 400 shares of Guard Inc. at a cost of $12.00 each. He continues to own the shares at the end of the year. What are the income tax consequences of these transactions including the ACB of the shares on hand at December 31, 2021?